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Sabre Corporation Announces Early Participation Results of the Exchange Offers for Certain Senior Secured Debt Securities
SOUTHLAKE, Texas, Aug. 21, 2023 /PRNewswire/ -- Sabre Corporation ("Sabre") (NASDAQ: SABR) today announced the initial results of the previously announced
About this update from Sabre Corporation
[{"type":"text","content":"SOUTHLAKE, Texas, Aug. 21, 2023 /PRNewswire/ -- Sabre Corporation (\"Sabre\") (NASDAQ: SABR) today announced the initial results of the previously announced exchange offers (each, an \"Exchange Offer\" and together, the \"Exchange Offers\") by Sabre GLBL Inc. (\"Sabre GLBL\"), a wholly-owned subsidiary of Sabre, to exchange any and all of its outstanding 7.375% Senior Secured Notes due 2025 (the \"September 2025 Notes\") and 9.250% Senior Secured Notes due 2025 (the \"April 2025 Notes\" and, together with the September 2025 Notes, the \"Existing Notes\" and each of them a \"series\" of Existing Notes) for cash and Sabre GLBL's new 8.625% Senior Secured Notes due 2027 (the \"New Notes\" and together with the Existing Notes, the \"Securities\"), upon the terms and subject to the conditions described in the confidential offering circular, dated as of August 7, 2023, for the Exchange Offers (as it may be amended or supplemented, the \"Offering Circular\").\nThe following table sets forth the principal amount of each series of the Existing Notes that were validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on August 18, 2023 (the \"Early Exchange Date\"), according to information provided by D.F. King, the information and exchange agent for the Exchange Offers (the \"Exchange Agent\"):\nTitle of Security\nCUSIP Number/ISIN\nPrincipal Amount Outstanding\nPrincipal AmountTendered \nPercentage ofOutstandingSecuritiesTendered\n7.375% Senior SecuredNotes due 2025\nCUSIP: 78573NAF9 (144A) / U86043AD5 (Reg. S)\n \nISIN: US78573NAF96 (144A) /\nUSU86043AD55 (Reg. S)\n$850,000,000\n$776,134,000\n91.31 %\n9.250% Senior SecuredNotes due 2025\nCUSIP: 78573NAC6 (144A) /\nU86043AC7 (Reg. S)\nISIN: US78573NAC65 (144A) /\nUSU86043AC72 (Reg. S)\n$104,901,000\n$65,951,000\n62.87 %\nSabre GLBL's obligation to accept for exchange the Existing Notes validly tendered and not validly withdrawn in each Exchange Offer is subject to the satisfaction or waiver of certain conditions as described in the Offering Circular, including the issuance of a minimum principal amount of $250 million (the \"New Notes Issuance Minimum\"), which has been met as of the Early Exchange Date.\nAssuming the satisfaction or waiver by Sabre GLBL (in its sole discretion, subject to applicable law) of the remaining conditions to the Exchange Offers, Sabre G...